WealthTech startup Clove has emerged from stealth with a €12 million pre-seed round, one of Europe’s largest early-stage financings in 2025. The company aims to make professional financial advice accessible to millions currently underserved by the traditional wealth management industry.
The round was led by Accel, with participation from Kindred Capital, Air Street Capital, and notable angels including Barney Hussey-Yeo (Cleo), Patrick Pichette (ex-Google, via Inovia Capital), Erez Mathan (GoCardless), and Gideon Valkin (ex-Monzo, ClearScore).
Founded in 2025 by Christian Owens (founder of Paddle, a UK payments unicorn) and Alex Loizou (founder of Trouva, acquired by Made.com), Clove is building a hybrid financial platform that combines human expertise with AI automation to deliver personalised, affordable, and scalable financial advice.
“A huge section of society has been failed by the financial advice industry because it only serves those who are already wealthy,” said Christian Owens, Clove’s CEO and Co-founder. “Less than 10% of the UK population benefits from professional advice, and half of advisers have stopped serving less affluent clients. That has to change.”
Bridging the Financial Advice Gap
Clove’s AI-driven platform aims to democratise financial planning — helping individuals and families navigate key life milestones such as buying a home, starting a business, or preparing for retirement.
“We want to break the traditional economics of financial advice,” added Alex Loizou, Clove’s Chief Product Officer and Co-founder. “By combining the empathy and nuance of human advisers with the precision and scalability of AI, we can make personalised financial planning accessible to everyone — not just the wealthy few.”
The Financial Conduct Authority (FCA) estimates that good financial advice can increase individual wealth by up to 10% over time, yet millions remain excluded.
In the UK alone, 13 million mass-affluent individuals hold £3.8 trillion in investable assets — and at least 3.7 million say they’re open to professional advice but lack access.
“Too many people are missing out on the support they need to build a secure financial future,” said Rachel Reeves, UK Chancellor of the Exchequer, in recent remarks on the country’s growing advice gap.
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A Strong Signal for WealthTech Innovation
Clove’s €12M pre-seed raise positions it as one of Europe’s most well-funded early-stage WealthTech startups this year — surpassing rounds from Wealthyhood (€3.6M), WARREN (€3M), and NAO (€1M+).
“There’s an urgent need to make expert financial advice more inclusive,” said Matt Robinson, Partner at Accel. “Christian and Alex have the track record, vision, and technical depth to transform this industry. The right advice can help people buy homes sooner, invest with confidence, and retire on their own terms — and Clove is building the institution to make that happen.”
Toward the Financial Institution of the Future
With its official launch planned for 2026, Clove is assembling a team of financial experts, AI engineers, and product builders to create a new model for advice-driven digital banking.
“This isn’t an abstract problem,” Owens added. “If people can’t make the most of their money, life goals — from home ownership to early retirement — feel further out of reach than they should. Clove exists to change that.”
About Clove
Clove is a London-based personal finance and wealth management platform redefining how people access financial advice. By combining human expertise with AI-powered automation, Clove delivers personalised guidance to help users take control of their money, close the financial advice gap, and make smarter decisions for their future.
